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Michael Curtis – Passed all sections of the CPA exam!

Posted on June 8, 2017March 20, 2018 by Nicole Anderson

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Lenhart, Mason & Associates, LLC

20 hours ago

Lenhart, Mason & Associates, LLC

The cash method of accounting offers greater tax-planning flexibility, allowing some businesses to defer taxable income. Under the TCJA, if your business’s average gross receipts for the previous three tax years are $25 million or less, you generally will now be eligible for the cash method for federal tax purposes, regardless of how your business is structured, your industry or whether you have inventories. Newly eligible businesses should determine whether the cash method would be advantageous and, if so, consider switching methods. bit.ly/2qW6aFc ... See MoreSee Less

The cash method of accounting offers greater tax-planning flexibility, allowing some businesses to defer taxable income. Under the TCJA, if your business’s average gross receipts for the previous three tax years are $25 million or less, you generally will now be eligible for the cash method for federal tax purposes, regardless of how your business is structured, your industry or whether you have inventories. Newly eligible businesses should determine whether the cash method would be advantageous and, if so, consider switching methods. http://bit.ly/2qW6aFc
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